As the financial sector continues to experience rapid consolidation and change, the need for strategic IT planning software becomes even more apparent
Austin, Texas (PRWEB) October 29, 2008
Troux Technologies, the leader in strategic IT planning and control software, today announced record quarterly results for its most recent quarter ending September 30, 2008. The company recorded a 60% year-over-year sales increase in the quarter, which follows a record-breaking Q1 where sales grew 40% year-over-year. The continued growth is attributed to Troux's unique ability to optimize IT expenditures and drive cost-savings at Global 2000 enterprises.
Troux customer wins during the quarter included:
- Three new large deals in the financial sector, including two with leading insurance firms.
- Two new customers in the energy sector, including CPS Energy, the nation's largest municipally owned energy company providing both natural gas and electric service, serving one million customers in the Greater San Antonio, Texas area.
- Strong repeat business throughout the manufacturing arena.
"In this economic climate every CIO has one overriding objective and that is to reduce IT expenses in order to improve profitability or fund growth initiatives. They need to focus on optimizing their current IT infrastructures and this is where Troux plays a pivotal role. We are seeing our customers save impressive money and time, and this has a real impact on the bottom line," said David Hood, CEO of Troux Technologies.
Proven Success in Optimizing IT Expenditures
Troux customers are demonstrating that their Troux IT planning and control solutions deliver bottom line results:
- A leading global aerospace manufacturer has been using Troux to identify redundancies in over 600 applications resulting in an estimated cost savings of $50 million. They plan to double that effort in the year ahead.
- Through its use of Troux, a major financial services company is identifying and removing over $400 million in server costs throughout its IT infrastructure.
- Another bank has seen a dramatic reduction in planning work, reducing planning cycles and therefore business response times from 16 weeks to 5 days.
- A high-tech manufacturer identified twice as many opportunities to remove legacy applications resulting in an immediate $10M savings.
Strategic IT Planning Pays Dividends in Restructuring and Mergers/Acquisitions
When large Global 2000 organizations restructure or are impacted by a merger or an acquisition, IT departments must respond quickly and efficiently. Strategic IT planning and control software from Troux Technologies assists these organizations by determining redundancies, optimizing the existing architecture and providing critical insight for decision makers.
"As the financial sector continues to experience rapid consolidation and change, the need for strategic IT planning software becomes even more apparent," continued Hood.
- For instance, recently one of the world's largest banks, and a Troux customer, bought a $50 billion mortgage company. The bank is now looking at Troux to accelerate assimilation of the new organization into its existing IT infrastructure.
- When a leading pharmaceutical retailer acquired two companies back-to-back, there were clearly some duplication of infrastructure and IT process. With Troux, they were able to consolidate more quickly, migrating the new data into the existing applications.
- Lastly, a leading regional bank has completed 17 acquisitions and divestitures over the past several years. The bank, with the help of Troux, has managed this dynamic growth and investment strategy while maintaining a strong centralized IT model. The portfolio data in Troux provided support for application portfolio management, change management, disaster recovery planning and consolidation activities.
Troux Technologies, a recognized leader in the growing market for strategic IT planning and control software, helps the largest Global 2000 enterprises and governments keep pace with the ever-increasing demands of business change. Troux's applications drive IT optimization and cost-savings while reducing operational risk. Troux's customers and partners include: Accenture, AstraZeneca, Barclays Bank, Disney, Department of Homeland Security, Fiducia, Los Alamos National Laboratory, GMAC, Vocalink and Vodafone. In June of 2008, Troux was recognized as a leader in Enterprise Architecture Tools by the prestigious technology research firm, Gartner. For more information please see http://www.troux.com
Note: Troux is a trademark of Troux Technologies, Inc. All other trademarks are property of their respective owners.